Saturday, December 9, 2017
Steinhoff shares bounce off 14-year low in volatile trade
Steinhoff shares bounce off 14-year low in volatile trade: Steinhoff shares plunged another 50 percent on Friday, before recovering as traders booked profits on short positions taken out after the South African retailer disclosed accounting irregularities earlier this week. More than $12 billion has been wiped off the market value of the owner of Conforama furniture stores and Poundland discount shops since Wednesday, when it announced an independent investigation into its accounts and said its CEO was leaving.
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